v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Operating activities    
Net income $ 21 $ 34
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 22 19
Pension and postretirement plan benefit (8) (9)
Deferred income taxes 2 1
Stock compensation 5 1
Restructuring costs 13 0
Other 0 3
Pension plan contributions 0 (3)
Changes in operating assets and liabilities:    
Trade receivables (17) 2
Inventories (22) 14
Accounts payable 22 (5)
Income taxes payable 3 5
Accrued advertising and promotion (9) (11)
Accrued salaries and wages (31) (21)
All other assets and liabilities (10) (20)
Net cash provided by (used in) operating activities (9) 10
Investing activities    
Additions to properties (60) (9)
Net cash provided by (used in) investing activities (60) (9)
Financing activities    
Proceeds from borrowings under the Credit Agreement 50 0
Repayment of borrowings under the Credit Agreement (6) (3)
Issuances of notes payable, with maturities greater than 90 days 94 0
Reductions of notes payables, with maturities greater than 90 days (75) 0
Net reduction of notes payable, with maturities less than or equal to 90 days (1) (2)
Issuances of common stock 1 1
Dividends paid (14) (14)
Net cash provided by (used in) financing activities 49 (18)
Effect of exchange rate changes on cash and cash equivalents 0 0
Increase (decrease) in cash and cash equivalents (20) (17)
Cash and cash equivalents at beginning of period 47 88
Cash and cash equivalents at end of period 27 71
Supplemental cash flow disclosures of non-cash investing activities:    
Additions to properties included in accounts payable 39 20
Supplemental cash flow disclosures of non-cash financing activities:    
Right-of-use assets obtained in exchange for operating lease liabilities $ 18 $ 36